Paradise Co Saved By Table Games<\/span><\/h2>\nParadise Co saw most of their October revenue from table tables. Table games earned KRW19.65 billion (US $16.59 million) in October across all Paradise Co casinos. This signifies an increase of 153% month-on-month.\u00a0<\/span><\/p>\nSlot machines accounted for sales of KRW1.7 billion (US $1.43 million), which is 1% less than in September.<\/strong><\/p>\nParadise Co owns four casinos: Paradise Walkerhill in Seoul, and Jeju Grand, Busan Casino Paradise, and Paradise City in Incheon.<\/span><\/p>\nGKL Heads in the Opposite Direction<\/span><\/h2>\nThe only other foreigner-only casino operator in South Korea, Grand Korea Leisure (GKL), didn’t see the same success. It announced a 16.5% drop in sales compared to last year, and a sequential decline in sales of KRW9.27 billion ($7.82 million).\u00a0<\/span><\/p>\n\n
Revenue from table games was down 3.2% compared to September. This represents a 16% year-on-year decline. Revenue from slot machines was KRW 1.60 billion (US $1.35 million), which is 7.2% higher than the previous month, but still 17.8% lower than October of last year.<\/span><\/p>\n<\/div>\nFor the first ten months, casino sales were almost 60% lower (58.3%) than in the same period last year. As a result, the final total was KRW75.35 billion ($63.59 million), impacted by a table drop that fell 57.5% to KRW 580.64 billion (US $490.08 million). The table drop for October was KRW71.95 billion (US $60.72 million). But this figure was 2.2% higher when compared to the figure for September.<\/span><\/p>\nGKL has three casinos in South Korea, the Gangnam COEX and Gangbuk Millenium Seoul Hilton in Seoul, and Seven Luck Casino Busan Lotte.<\/span><\/p>\nSouth Korea’s COVID-19 Fight<\/span><\/h2>\nRestrictions in South Korea have been very stringent because of the COVID-19 pandemic, and authorities are just beginning to relax these measures. As a result, restaurants and cafes and other businesses can now operate without time constraints.<\/span><\/p>\nOn Friday, the government announced that restrictions would be lifted or relaxed this month in operations in most establishments. Still, the government mandates proof of vaccination or a negative PCR in many places, including casinos. Mask requirements and social distancing requirements remain in place.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"One of South Korea’s foreigner-only casino operators, Paradise Co, saw 125% higher revenue in October. However, their other venue, Grand Korea Leisure, saw a substantial drop in sales. Paradise Co’s latest financial statement shows the company earned KRW21.35 billion (US $18.03 million) in October. This was significantly better than September, which totaled KRW9.49 billion (US […]<\/p>\n","protected":false},"author":64,"featured_media":190955,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[],"acf":[],"yoast_head":"\n
South Korea's Foreigner-Only Casinos See Mixed Performances in October - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n